Proposed Amendment No. 3: Yes.Proposed Amendment 3 also has the endorsement of the Council for a Better Louisiana (CABL), which calls it "an added degree of discipline to help ensure that the politically popular rush to increase employee benefits doesn’t outrun our ability to pay for them."
If voters must amend the Constitution, they should do so on the side of fiscal responsibility. As a state, we've promised a bundle of money in retirement to state employees. Right now, the tab stands at some $12 billion, for many current mandates for state retirement pay were not accompanied by the means to fund those benefits. This amendment require that future benefits must be paired with a funding source and that any debt for increased benefits must be paid in 10 years, not the 30 years in which current debt is being paid. A perfect solution? No. But more prudent than in the past? Yes.
The Public Affairs Research Council (PAR) has an analysis of all proposed constitutional amendments on the October 20th ballot.